Consider the monopoly producer of Green Tractors whose demand function is P = 100 – Q and total cost TC = 16 + Q^2. Based on this information, answer the following questions. Hint: It might be helpful to sketch a diagram but you are not required to do so.

(4)a. What output level and price will Jim choose? (4)b. How much economic profit will Jim earn? (4)c. If Jim's total cost function changes to TC = 32 + Q^2, what, if anything, would change about his price and output decisions? Explain briefly. (4)d. If Jim is able to implement a first-degree price discrimination scheme, how many units will Jim sell and what will be the price of the last unit he sells? (4)e. Given your answer to part “d,” how much producer surplus will Jim earn?

1 why union activity is decreasing globally?

2 purpose of union

3 pros and cons of union

Consider the current situation with the Covid-19 virus and its effects on the US economy.

1. Draw out the AD/AS model starting at the long run equilibrium. Indicate all points and curves on the graph. Find the US Real GDP and CPI as of December 2019 (online). Use these values as the price level and natural rate of output in the long-run equilibrium. (10 points)

2. Explain the supply-side shocks coming from the Covid-19 virus. How would these supply-side shocks affect the AD/AS model from part (1)? Explain in words and graphically how these shocks would affect the macro-economy. Draw and analyze the effect of the shock on the AD/AS model, how does it affect production, unemployment, price level and inflation? (10 points)

3. Explain the demand-side shocks coming from the Covid-19 virus. How would these demand-side shocks affect the AD/AS model from part (1)? Explain in words and graphically how these shocks would affect the macro-economy. Draw and analyze the effect of the shock on the AD/AS model, how does it affect production, unemployment, price level and inflation? (10 points)

4. Illustrate the impact on the AD-AS model when both of these shocks are happening at the same time. What do we know will happen for certain, what is unknown, with respect to price level changes and production changes? (10 points)

5. How has the Federal Reserve responded to these shocks? What type of monetary policy changes have taken place? Explain in words and graphically using the MD/MS model. (10 points)

6. How has the Federal government and Congress responded to these shocks? What type of stimulus package has been passed? Explain. (10 points)

7. Consider the $2 trillion Congress has approved to be spent as a counter-shock to the recessionary pressures.

1. If the marginal propensity to consume is ½, what is size of the multiplier effect? (3 points)
2. If the package needs to be financed by new government bonds, and the result is an increase in interest rates by 0.5%, and investment spending declines by $100 million for each 1% increase in interest rates, what is the crowding out effect? (3 points)
3. What will be the net effect of the stimulus package, considering both parts a. and b.? Which effect dominates and why? (4 points)

8. In a generalized AD/AS model (without specific numbers), illustrate and explain how the changes in monetary and fiscal policy act as a counter-shock to the demand and supply side shocks coming from Covid-19. Draw your model starting from (3) and then include the effects of the (5) and (7) on the graph. (10 points)

9. What is the tradeoff that the government faces when enacting these counter-shock measures? Relate this specifically to the Phillips Curve. (10 points)

legal system in Morocco, related to Economics

Explain the role of the market for loanable funds in sustainable economic growth. (long answer question)

when the National Park Service picks a single privately owned firm to be the sole seller of food and other Goods in the US National Parks, this is an example of the creation of a
A. natural monopoly
B. legal monopoly
C. strategic resource monopoly

CPA Ethics

Business Partners

Michael, who is a licensed CPA, provides tax services for a general partnership client XYZ Partners. The partnership has two partners. One partner Susan owns 70% share of the partnership, and the other partner Tim owns the remaining 30% share. Susan, the majority partner also engages Michael separately to provide individual tax preparation services. Michael has worked for the partnership and its majority partner for the past three years. One day Susan requests Michael's confidential advice and guidance regarding how to finance some large debts she has accumulated. Without hesitation, Michael provides Susan with some preliminary advice. However, Susan later sends Michael an e-mail suggesting that he come up with some "creative financing" regarding the partnership to help deal with this debt. Susan also reminds Michael not to share any of her problems with Tim, the minority partner. Susan's request troubles Michael and puts him in an awkward position: maintaining confidentiality of the information could jeopardize Michael's obligation to the minority partner.

What should Michael do?

Can someone please help me with this ethical dilemma?

Can I get the answers to these with work shown? 2, 3, 4, and 5 only please.

1. The following two linear functions represent a market (thus one is a supply function, the other a demand function). Circle the answer closest to being correct. Approximately what will the quantity demanded be if the government controls the market price to be $1.50 (You must first find the market equilibrium price and quantity in order to see how the $1.50 relates to them)?

Q = 100 – 4.6P and Q = 75 + 6.2P

Qd=100-4.6P Qs=75+6.2P P=$1.50

Qd=Qs 100-4.6P=75+6.2P = 25=10.8P P=2.31

P=1.50 Qd=100-4.6P =100-4.6(1.5) =100-6.9 =93.1

2. There has been a change in the market (represented in 1 above). The change is represented by the following two equations. Circle the one correct conclusion that describes the market change.

Q = 85 + 6.2P and Q = 100 – 4.6P

3. Circle the function on the answer sheet that represents the marginal revenue (MR) function for this demand function: Q = 100 – 3P

4. Circle the quantity that maximizes total revenue (TR) for the marginal revenue (MR) function selected in number three (3).

5. If supply decreases and demand also increases, we can conclude that the new equilibrium:

The country of Turkey, between 1988 and 2003 had inflation of about 60%

per year, peaking at 125% in the mid-1990s. What was its likely cause?

Suppose that the demand curve for barley can be characterized by the equation P = 100 - 2Qd. Suppose further that price was $10.00 and a $10.00 tax is imposed on the market. a) How many barleys would be purchased at a price of $10.00? After tax? b) What is the amount of tax revenue generated by the tax? c) How much excess burden is generated by the tax? d) What is the amount of consumer surplus before and after the tax? What is the difference in consumer surplus? Is it equal to excess burden plus the tax revenue?

You are attending a conference of business leaders in Vancouver and you have been asked to defend the high tax regime in Canada. In the form of a speech, beginning with “Dear Ladies and Gentlemen,...” defend the high taxation of 31% national average in the country.

Use the cost/benefit analysis discussed in class as part of your defense. In the course of your defense, be sure to discuss at least two tax categories in support. You can also use the impressive economy/financial response of the Canadian government in the ongoing COVID-19 health crisis as part of your support. (Please note that one, two or three lines responses would not have enough details to give you good marks on this question. The more details the more chances of good marks.) .

The demand for the product of a typical firm in a monopolistically competitive market tends to be more price inelastic than the demand for the product of a monopolist. Do you agree or disagree?

How do changes in monetary policies affect aggregate demand and aggregate supply?